current BTL rates?

nexus7

Could anyone, particularly any brokers lurking give me a rough idea of the current rates available for a 25% and 40% LTV for BTLs?

I'm fed up of only seeing the small minority available with their massive % based fees.

An idea of the charges would also be useful.

Many thanks in advance!

GMS

Do you mean 25 to 40% LTV or deposit?

It wouldn't be fair to direct you to lenders as nobody knows your circumstances.

Have a chat with a broker as there are many Buy to Let products available to brokers only.

May require a minimum income of 25k per annum. Do you meet this?

nexus7

25% and 40% deposit.

The salary isn't a problem.

I'd just like an idea if for example the 40% deposit gets me down to say 4% interest vs 5% at 25% or if they're pretty close that it's not worth chucking in another 15% deposit.

An idea of whether it's 1% 2% 4 or 8 would be a good start!

Then I can start working out rental income vs mortgage repayments (interest and or capital)

GMS

Buy to Let rates vary hugely depending upon many factors. The main one is the arrangement fee. Some would have a 3.5% fee, others £995. Need to work out which is better for you depending upon loan.

Fixed rate or tracker? 2 years or 5 years? Impossible to pick rates without knowing what you want. They really do differ hugely.

For rental calculations use 6% @ 125% of monthly payment on interest only as a guide to make sure it fits.